Thryve Wealth Management LLC Takes $5.47 Million Position in Apple Inc. $AAPL

Thryve Wealth Management LLC acquired a new position in Apple Inc. (NASDAQ:AAPL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,139 shares of the iPhone maker’s stock, valued at approximately $5,475,000. Apple accounts for 2.7% of Thryve Wealth Management LLC’s investment portfolio, making the stock its 10th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the period. Timmons Wealth Management LLC purchased a new stake in shares of Apple in the 4th quarter worth $69,000. LSV Asset Management bought a new position in Apple in the 4th quarter worth $65,000. Inspire Investing LLC bought a new position in Apple in the 4th quarter worth $76,000. Finally, Basso Capital Management L.P. purchased a new position in Apple during the fourth quarter valued at $88,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $298.01 on Friday. Apple Inc. has a 12 month low of $196.85 and a 12 month high of $317.40. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock has a market cap of $4.38 trillion, a PE ratio of 36.04, a P/E/G ratio of 2.59 and a beta of 1.09. The stock’s 50 day moving average is $289.73 and its 200 day moving average is $272.98.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.06. The business had revenue of $111.18 billion during the quarter, compared to analyst estimates of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm posted $1.65 EPS. Research analysts predict that Apple Inc. will post 8.75 EPS for the current fiscal year.

Apple Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Apple’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio is 13.06%.

Analysts Set New Price Targets

Several analysts have issued reports on AAPL shares. KeyCorp reissued a “sector weight” rating on shares of Apple in a report on Tuesday, June 9th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Apple in a research note on Tuesday, June 9th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Apple in a research report on Monday, March 2nd. Sanford C. Bernstein reiterated an “outperform” rating on shares of Apple in a research note on Monday, June 8th. Finally, Monness Crespi & Hardt increased their target price on shares of Apple from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $314.59.

Insider Activity at Apple

In other Apple news, SVP Deirdre O’brien sold 30,002 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $255.35, for a total value of $7,661,010.70. Following the sale, the senior vice president owned 136,810 shares in the company, valued at $34,934,433.50. The trade was a 17.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevan Parekh sold 1,534 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $275.00, for a total transaction of $421,850.00. Following the transaction, the chief financial officer directly owned 13,366 shares of the company’s stock, valued at $3,675,650. This trade represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 97,875 shares of company stock valued at $24,998,541. 0.06% of the stock is currently owned by insiders.

More Apple News

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Apple’s planned price increases could protect margins as memory and storage costs rise, and Bank of America reiterated a Buy rating with a $380 target, citing Apple’s pricing power and supply-chain strength. Article Title
• Positive Sentiment: Reports of upcoming AI-focused devices and a second-generation iPhone Air support confidence in Apple’s product pipeline and longer-term growth story. Article Title
• Neutral Sentiment: Apple’s planned price hikes may help earnings, but they could also pressure demand if consumers balk at higher handset prices. Article Title
• Neutral Sentiment: Apple opening Brazil’s App Store to alternative marketplaces reduces regulatory friction there, but it also underscores ongoing global platform scrutiny. Article Title

Apple Company Profile

Apple Inc (NASDAQ: AAPL) is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple’s principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.